News

Specific Deposit Interest Rate For the Period 1 July 2019 – 30 September 2019

The interest rate for Specific Deposit Account will remain at 0.60% per annum for the period 1 July 2019 to 30 September 2019. Subsequent updates on the interest rate can be obtained from our website at https://policecoop.org.sg/specific-deposits-savings-optional/.

Interest rates for the Fixed Deposits Account will also remain the same from 1 January 2019 as follows:

Tenure (Months)

Interest Rates (% p.a.)

$500 to […]

Revised Fees and Charges with effect from 1 January 2018

Please refer to table below for the new fees and charges with effect from 1 January 2018.

Proposer’s Incentive to be credited into bank account

With effect from 1st January 2018, members who propose or recommend friends, family members or colleagues to join the Police Co-operative as members will receive $25 as an incentive to be credited into their bank for each successful referral. Prior to this change, the Co-operative gave members $25 worth of vouchers for each successful referral.

 An existing […]

Make a Nomination for Your Account with Police Co-op Today!

Members have been coming forward to make new appointments of nominee(s) or amend existing nominations of their accounts at the Co-operative after our article on the importance of making a nomination appeared in the October 2016 to March 2017 issue of Police Co-operator.

 

If you have chosen not to make a nomination or there has been […]

Financial Status Self-assessment – How Are You Faring?

Some guidelines to lead you in the right direction on your financial planning!

Police Co-operator to be Published on a Half-Yearly Basis

Making a Nomination – Why is it important?

What is a nomination?

A nomination allows a member to specify an individual or individuals (known as a nominee) who will receive the member’s savings deposited in his/her Police Co-op savings account, and how much each nominee or nominees should receive upon the demise of the member.

Why is it important to make a nomination?

Making a nomination […]

CRS – Individual Tax Residency Self-Certification

What is Common Reporting Standard?

The Common Reporting Standard (“CRS”) is an internationally agreed standard for automatic exchange of information (“AEOI”) on financial accounts between jurisdictions for tax purposes. The objective is to enhance tax transparency so as to detect and deter tax evasion through the use of offshore bank accounts.

More than 100 jurisdictions including major […]

Thinking of borrowing from a Licensed Moneylender? DON’T!

Revised Interest Rate w.e.f 1 January 2016: Specific Deposits Savings

With effect from 1 January 2016, the interest rate for Specific Deposits Savings will be revised from 0.85% per annum to 0.90% per annum.

More details of the Specific Deposits Savings Scheme can be found here: /specific-deposits-savings/

Office closed for Deepavali

Please note that our office will be closed for the Deepavali public holiday on 10 November 2015.

Normal operating hours will resume on 11 November 2015.

Happy Deepavali to all our Hindu members.

Operating hours for the upcoming festive season

Please note that our office will be closed for the following periods during the festive season:

24 Dec 2015 – From 12.30pm onwards
25 Dec 2015 – Closed
31 Dec 2015 – From 12.30pm onwards
01 Jan 2015 – Closed

Members may continue to access their account via the 24-hours phone banking system at 6334 5670. Enquiries may be directed […]

Scheduled maintenance for Police Co-op website

Please be informed that our website has been scheduled for maintenance during the following period:

Date: 20 – 27 November 2015

Slower loading speed or disruption of the site may be experienced during this period.

Members may continue to access their account details via our 24-hour Interactive Voice Response System (IVRS) by calling 63345670 or direct your enquiries […]

Subscription-to-Savings Scheme half-yearly interest pay-out and cut-off date for withdrawals

The Subscription-To-Savings Scheme (STSS) is a by-invitation only, 3 to 4-year saving scheme for members with no outstanding loan and a minimum balance of $2,000 in their Subscription Capital Accounts as at launch period.

The objective of the STSS is to provide members with an opportunity to earn more regular and consistent returns on the monies […]

Spend prudently during the festive season and enjoy a worry-free New Year

Every year, thousands of loans are given to members in need of financial assistance for a myriad of reasons. Taking a loan for festive-related expenses has been gaining popularity in recent years. Splurging on luxury purchases and lavish meals during this period is common and can serve as a pat on the back for the […]